What is Digital FP&A?

In the world of Financial Planning and Analysis (FP&A), the mantra has always been about mastering processes and nurturing the right people. But in today’s digital age, the game is rapidly evolving. Welcome to the era of Digital FP&A, where technology doesn't just assist—it transforms.

The Evolution of Digital FP&A

At the heart of Digital FP&A lies a powerful, connected planning (CP) tool. This is the backbone, enabling seamless integration of data across the organization. Yet, it doesn’t stop there. A sophisticated Business Intelligence (BI) tool follows closely behind, serving as the eyes of the operation, providing crystal-clear insights through dynamic reporting and in-depth analysis.

But here’s the catch: no matter how advanced these tools are, their success hinges on three critical factors—implementation quality, the depth of key users’ functional knowledge, and a deliberate rethinking of FP&A processes to extract the maximum value. These tools are not mere accessories; they are productivity powerhouses for the entire FP&A team. However, another giant looms on the horizon: personal productivity. This is where AI steps into the spotlight.

AI’s understanding and adoption within FP&A teams is not just an option; it’s a necessity. Incorporating AI into daily workflows requires both theoretical knowledge and a hands-on approach. The impact of AI today is akin to the revolutionary leap that Excel once provided—think back to the difference between those who mastered the VLOOKUP function and those who didn’t. You can survive without it, but your productivity will never reach its full potential.

As new generations of FP&A professionals enter the workplace, they bring with them a hunger to eliminate mundane tasks—the so-called "monkey jobs." They are astounded to discover that even in large corporations, inefficiencies and misunderstandings about FP&A still abound. This realization leads to a critical understanding: it will be their mission to revolutionize FP&A practices. They will need to champion the integration of AI into FP&A practices - something to be called FP&AI.

But where shall we begin?

Align on FP&A Basics: Start by revisiting the fundamental question—why do we do FP&A? What is its role within the broader finance function? FP&A is not just about financial reporting or budget consolidation; it's about continuously uncovering the business drivers that shape your organization’s financial performance. Predicting these drivers, assessing their impact, and crafting a compelling narrative around them is the essence of FP&A.
Evaluate Your Connected Planning (CP) Tool: Do you have a CP tool? If not, the solution is simple—you need one. If you already have one that’s underperforming, it’s time for a reassessment. CP tools are essential for building customized business driver models and ensuring accurate predictions, from leveraging last year’s actuals to implementing machine learning models.
Educate Your FP&A Teams on AI: AI is transforming FP&A, but the path to adoption varies for each individual. Just as we all use Excel differently, AI usage will differ across teams. Start with Microsoft Copilot, your new personal assistant that you need to learn to communicate with effectively. ChatGPT offers a wealth of knowledge, with Gemini soon joining the ranks. And don’t overlook machine learning—it’s an AI tool every FP&A professional should understand, even if not all will use it in practice.

What's in my backpack?

Having spent the last 17 years immersed in the Digital FP&A landscape, I’ve witnessed firsthand how companies approach digital transformation.

In the early days, working within a corporate multinational, our Digital FP&A journey was driven by the evolution of Excel and other MS Office applications. ERP systems provided data and insight into business drivers, but it was in Excel that FP&A professionals found their creative freedom—building intricate "connected planning applications" through a blend of user input, calculations, data collection, and outputs, often with VBA macros or MS Access databases. These Excel gurus became indispensable, bridging the gap between FP&A processes and technology.

Fast forward to 2015, and the Digital FP&A landscape was shaken by a seismic shift. BI tools like Tableau and MS Power BI emerged, alongside a burgeoning market of Cloud FP&A solutions like Anaplan. Suddenly, Excel faced a formidable challenge, and FP&A professionals, myself included, were eager to expand their skill sets.

At the same time, the rise of Data Science introduced us to the "sexiest job of the 21st century," as dubbed by HBR.

My background in Economic Statistics allowed me to reconnect with statistical modeling, uncovering that concepts like machine learning were not entirely new but rather evolved from what we learned in academia.

A few years later, digital transformation initiatives became a reality. Transformation teams, new learning paths, and organizational restructuring ushered in a new wave of project work. I stayed at the forefront, eager to contribute and learn.

In 2019, I transitioned to consulting, founding MarketPoint to guide companies on their Digital FP&A journeys. Partnering with Anaplan experts like Numlix, I’ve played pivotal roles in Anaplan implementations, from project management to solution architecture.

Today, as a Master Anaplanner, I collaborate with FP&A teams worldwide to elevate their Anaplan projects and support Centers of Excellence. My expertise extends across Project Management, High-Performance Leadership, PowerBI, Machine Learning, MS Copilot, and ChatGPT for Finance.

Now, FP&A teams stand on the threshold of the GenAI era—where I also find myself.

My mission is to bridge the gap between what AI offers and what is truly applicable in the everyday life of FP&A professionals. Through team training, articles, and keynote speeches, I’m dedicated to sharing this knowledge.

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